Teacher Retirement System of Texas Raises Stake in Biohaven Ltd. (NYSE:BHVN)

Teacher Retirement System of Texas increased its stake in Biohaven Ltd. (NYSE:BHVN) by 31.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,320 shares of the company’s stock after buying an additional 5,600 shares during the period. Teacher Retirement System of Texas’ holdings in Biohaven were worth $871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new position in shares of Biohaven during the third quarter worth approximately $565,000. Charles Schwab Investment Management Inc. increased its holdings in Biohaven by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 632,690 shares of the company’s stock worth $31,616,000 after purchasing an additional 32,769 shares during the period. Citigroup Inc. raised its position in Biohaven by 125.8% during the 3rd quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock valued at $5,992,000 after purchasing an additional 66,801 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Biohaven by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,677 shares of the company’s stock worth $9,628,000 after buying an additional 8,905 shares during the period. Finally, D.A. Davidson & CO. bought a new position in shares of Biohaven during the 3rd quarter worth $1,195,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $27.59 on Friday. Biohaven Ltd. has a fifty-two week low of $26.57 and a fifty-two week high of $55.72. The company has a market cap of $2.82 billion, a PE ratio of -2.95 and a beta of 1.27. The business has a 50-day simple moving average of $35.15 and a two-hundred day simple moving average of $41.36.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). On average, sell-side analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John W. Childs bought 29,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BHVN shares. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, HC Wainwright restated a “buy” rating and set a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $62.77.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.